How are assets divided in a divorce?
Each party is assigned his or her non-marital property. The marital estate and marital debt are equitably distributed between the parties, without regard to marital misconduct. In determining what qualifies as an equitable distribution, the court considers the following factors: • The contribution of each party to the acquisition, preservation, increase or decrease in value of the marital or non-marital property, including the contribution of a spouse as a homemaker or to the family unit; • The dissipation by each party of the marital or non-marital property; • The value of the property assigned to each spouse; • The duration of the marriage; • The relevant economic circumstances of each spouse when the division of property is to become effective, including the desirability of awarding the family home, or the right to live therein for reasonable periods, to the spouse having custody of the children; • Any obligations and rights arising from a prior marriage of either party; • Any prema